LPL Financial Holdings Inc.’s (NASDAQ:LPLA) total brokerage and advisory assets of $767 billion at the end of January 2020 grew 0.3% from the prior month and 16.1% year over year. Of the total brokerage and advisory assets, brokerage assets were $397.7 billion while advisory assets totaled$369.3 billion.
Total net new assets were an inflow of $3.4 billion in January.
LPL Financial reported $33.5 billion of total client cash sweep balance, down 0.6% from December 2019 but up4% from January 2019. Of the total, $24.4 billion was insured cash and $4.8 billion was deposit cash while the remaining $4.2 billion was money market balance.
Backed by decent equity markets performance, trading activities are expected to improve. This, in turn, will support revenues.
Shares of LPL Financial have rallied 13.5% over the past year, outperforming 7.5% growth for the industry.
LPL Financial currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Brokerage Firms
E*TRADE Financial (NASDAQ:ETFC) has reported a rise in Daily Average Revenue Trades (DARTs) for January. According to its monthly-market activity, the company’s DARTs came in at 463,739, jumping 31% from the previous month and 68% year over year.
Interactive Brokers Group, Inc. (NASDAQ:IBKR) has released its Electronic Brokerage segment’s performance metrics for January. Total client DARTs were 1,019,000, up 32% from December 2019 and 20% from January 2019.
Charles Schwab (NYSE:SCHW) has released the monthly activity report for January 2020, which shows decent results compared with the prior month. Net new assets of $20.9 billion plunged 31% from the previous month. Nonetheless, it improved 38% year over year.
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